I’ve seen folks inquire a lot about “cost” be exorbitant but it’s not for the world to set the payroll of the persons assistance they are requesting of.On another note, with that good of an LTV and DSCR - if credit is in good shape you should be in the low 7’s todays market.

If you do not have the capital you will not get it.1. a bank will want a personal guarantee and will want a substantial net worth. 2.

From the people I personally know living in some of these new apartments, they are almost at full capacity.

Personally I would look at doing a cash out refinance to buy more property instead of selling, but a lot depends on your specific situation.

We learned the importance of thoroughly vetting our title companies and double-checking every detail.

Your irresistible offer appears to not have turned out so well either by your own admission and my advice is to help you and others reading this about the importance of knowing how and what to have in your contracts, how to properly vet buyers BEFORE you bring them a deal, etc. your situation is a great learning lesson for others and for yourself if you are willing to learn from your own mistakes.As to the assignment being legal or not, I am not 100% knowledgeable on NC laws, however, I have had several experienced investors tell me North C has similar laws regarding this process as does CA, FL, etc.

It's really easy to create stressful and costly problems for yourself in this game, and as an investor, your time is much better spent learning and working on your next deal rather than trying to find a handyman on craigslist who will pump water out of your basement in another state at 3am. 

I have reviewed the IRC publication for prohibit transactions between the plan and a disqualified person which contain a few criteria including selling, exchanging and leasing the property.

I believe the person that approved the plans has more training related to architecture than the inspector.  

I don't want to take out a personal loan if I can help it.